Detailed Single Year Tables

Description of Proposed Provision:
Apply OASDI payroll tax rate on earnings above $400,000 starting in 2017, and tax all earnings once the current-law taxable maximum exceeds $400,000. Provide benefit credit for earnings above the current-law taxable maximum that are subject to the payroll tax, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from annual earnings from each year after 2016 that were in excess of that year's current-law taxable maximum; and (2) a formula factor of 2 percent on this newly computed "AIME+".

&nbsp

Financial Estimates for the OASDI Trust Fund Program

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

&nbsp

Expressed as a percentage of present-law taxable payroll

Trust fund ratio as of January 1

Expressed as a percentage ofpresent-law taxable payroll

Calendaryear

Costrate

Incomerate

Annualbalance

Costrate

Incomerate

Annualbalance

2015

14.13

12.82

-1.31

308

0.00

0.00

0.00

2016

13.88

12.88

-1.00

298

0.00

0.00

0.00

2017

13.89

13.90

0.00

280

0.00

0.99

0.99

2018

13.97

13.99

0.03

271

0.00

1.06

1.06

2019

14.09

14.04

-0.05

262

0.00

1.09

1.09

2020

14.22

14.08

-0.15

254

0.00

1.11

1.11

2021

14.34

14.12

-0.22

246

0.00

1.14

1.14

2022

14.52

14.18

-0.34

239

0.00

1.16

1.16

2023

14.72

14.21

-0.51

230

0.00

1.18

1.18

2024

14.95

14.26

-0.69

221

0.00

1.20

1.20

2025

15.16

14.32

-0.85

213

0.00

1.24

1.24

2026

15.36

14.37

-0.99

205

0.00

1.27

1.27

2027

15.56

14.42

-1.14

196

0.00

1.31

1.31

2028

15.75

14.47

-1.28

188

0.00

1.35

1.35

2029

15.93

14.53

-1.40

180

0.00

1.39

1.38

2030

16.10

14.58

-1.52

172

0.00

1.43

1.43

2031

16.25

14.64

-1.61

164

0.00

1.47

1.47

2032

16.38

14.69

-1.69

155

0.00

1.51

1.51

2033

16.48

14.74

-1.74

146

0.00

1.56

1.55

2034

16.56

14.79

-1.76

137

0.00

1.60

1.60

2035

16.62

14.85

-1.77

128

0.00

1.65

1.65

2036

16.68

14.91

-1.78

119

0.01

1.70

1.70

2037

16.72

14.96

-1.76

110

0.01

1.76

1.75

2038

16.74

15.02

-1.72

101

0.01

1.81

1.80

2039

16.74

15.08

-1.65

92

0.01

1.87

1.86

2040

16.72

15.14

-1.58

83

0.01

1.93

1.92

2041

16.70

15.21

-1.49

75

0.01

1.99

1.98

2042

16.67

15.27

-1.40

68

0.01

2.06

2.05

2043

16.65

15.34

-1.31

60

0.01

2.13

2.12

2044

16.63

15.42

-1.21

53

0.01

2.20

2.19

2045

16.61

15.49

-1.11

47

0.01

2.28

2.27

2046

16.59

15.54

-1.04

41

0.01

2.33

2.32

2047

16.57

15.55

-1.02

36

0.01

2.33

2.32

2048

16.56

15.55

-1.01

30

0.01

2.33

2.32

2049

16.55

15.55

-1.00

25

0.01

2.33

2.32

2050

16.56

15.55

-1.00

19

0.02

2.33

2.32

2051

16.57

15.56

-1.01

13

0.02

2.33

2.32

2052

16.59

15.56

-1.03

8

0.02

2.33

2.32

2053

16.62

15.56

-1.06

2

0.02

2.34

2.32

2054

16.66

15.57

-1.10

----

0.02

2.34

2.32

2055

16.71

15.57

-1.14

----

0.02

2.34

2.32

2056

16.76

15.58

-1.19

----

0.02

2.34

2.32

2057

16.81

15.58

-1.23

----

0.02

2.34

2.32

2058

16.87

15.59

-1.28

----

0.02

2.34

2.32

2059

16.92

15.59

-1.33

----

0.02

2.34

2.32

2060

16.98

15.60

-1.38

----

0.02

2.34

2.32

2061

17.03

15.60

-1.43

----

0.03

2.34

2.32

2062

17.08

15.60

-1.48

----

0.03

2.34

2.32

2063

17.14

15.61

-1.53

----

0.03

2.35

2.32

2064

17.19

15.61

-1.58

----

0.03

2.35

2.32

2065

17.24

15.62

-1.63

----

0.03

2.35

2.32

2066

17.30

15.62

-1.68

----

0.03

2.35

2.32

2067

17.36

15.63

-1.73

----

0.03

2.35

2.32

2068

17.42

15.63

-1.79

----

0.03

2.35

2.32

2069

17.48

15.64

-1.84

----

0.03

2.35

2.32

2070

17.53

15.64

-1.89

----

0.03

2.35

2.32

2071

17.58

15.65

-1.94

----

0.03

2.36

2.32

2072

17.63

15.65

-1.98

----

0.03

2.36

2.32

2073

17.67

15.66

-2.01

----

0.03

2.36

2.33

2074

17.70

15.66

-2.04

----

0.03

2.36

2.33

2075

17.72

15.66

-2.06

----

0.03

2.36

2.33

2076

17.73

15.66

-2.07

----

0.03

2.36

2.33

2077

17.74

15.67

-2.07

----

0.03

2.36

2.33

2078

17.74

15.67

-2.07

----

0.04

2.37

2.33

2079

17.74

15.67

-2.07

----

0.04

2.37

2.33

2080

17.74

15.67

-2.07

----

0.04

2.37

2.33

2081

17.75

15.67

-2.08

----

0.04

2.37

2.33

2082

17.76

15.67

-2.09

----

0.04

2.37

2.33

2083

17.78

15.68

-2.11

----

0.04

2.37

2.33

2084

17.81

15.68

-2.13

----

0.04

2.37

2.34

2085

17.85

15.68

-2.16

----

0.04

2.37

2.34

2086

17.88

15.69

-2.20

----

0.04

2.38

2.34

2087

17.92

15.69

-2.23

----

0.04

2.38

2.34

2088

17.97

15.69

-2.27

----

0.04

2.38

2.34

2089

18.01

15.70

-2.31

----

0.04

2.38

2.34

2090

18.06

15.70

-2.35

----

0.04

2.38

2.34

&nbsp

Summarized Estimates

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

Years

Costrate

Incomerate

Actuarialbalance

Year of reserve depletion1

Costrate

Incomerate

Actuarialbalance

Based on Intermediate Assumptions of the 2015 Trustees Report.

2015-2089

16.56%

15.74%

-0.82%

2053

0.01%

1.88%

1.86%

&nbsp

1 Under present law, the year of Trust
Fund reserve depletion is 2034.